Posts Tagged ‘domenica ferraino’

Existing home sales rose 10% in September to a seasonally adjusted annual rate of 4.53 million units from a revised 4.12 million units in August. The inventory of unsold homes on the market declined 1.9% to 4.04 million, a 10.7-month supply at the current sales pace, down from a 12-month supply in August.

The Standard & Poor’s/Case-Shiller 20-city housing price index — on a seasonally adjusted basis — fell 0.3% in August after a 0.2% decrease in July. On a year-over-year basis, prices rose 1.7% compared with August 2009.

Orders for durable goods — items expected to last three or more years — rose 3.3% in September after decreasing a revised 1% in August. Excluding volatile transportation-related goods, orders posted a monthly decrease of 0.8%.

New home sales rose 6.6% in September to a seasonally adjusted annual rate of 307,000 units from a rate of 288,000 units in August. Economists had expected a pace of 300,000 units.

The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 2% in the third quarter of 2010.

Initial claims for unemployment benefits fell by 21,000 to 434,000 for the week ending October 23. Continuing claims for the week ending October 16 fell by 122,000 to 4.35 million, the lowest level since the recovery began.

Upcoming on the economic calendar are reports on construction spending on November 1, factory orders on November 3 and pending home sales on November 5.

Last Week in the News
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Industrial production at the nation’s factories, mines and utilities fell 0.2% in September, following a 0.2% increase in August. Economists had anticipated a gain of 0.2%. Capacity utilization fell to 74.7% in September from a revised 74.8% in August.
The National Association of Home Builders/Wells Fargo housing market index rose three points in October to 16. Economists had anticipated a reading of 14. An index reading below 50 indicates negative sentiment about the housing market.
According to the ICSC-Goldman Sachs index, retail sales fell 0.7% for the week ending October 16. On a year-over-year basis, retailers saw sales increase 1.7%, the weakest reading since May.
The combined construction of new single-family homes and apartments in September rose 0.3% to a seasonally adjusted annual rate of 610,000 units. Single-family starts rose 4.4%. Multifamily starts dropped 9.7%. Applications for new building permits, seen as an indicator of future activity, fell 5.6% to an annual rate of 539,000 units.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 15 fell 10.5%. Refinancing applications decreased 11.2%. Purchase volume fell 6.7%.
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.3% in September after a downwardly revised 0.1% increase in August.
Initial claims for unemployment benefits fell by 23,000 to 452,000 for the week ending October 16. Continuing claims for the week ending October 9 fell by 9,000 to 4.39 million, the lowest level since the recovery began.
Upcoming on the economic calendar are reports on existing home sales on October 25, the housing price index on October 26 and new home sales on October 27.

Last Week in the News
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The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 8 rose 14.6%. Refinancing applications jumped 21%. Purchase volume fell 8.5%.
The trade deficit increased 8.8% to $46.3 billion in August. Economists had expected the trade deficit to rise to $44.3 billion. Exports rose 0.2% to $153.9 billion. Imports increased 2.1% to $200.2 billion.
The producer price index, which tracks wholesale price inflation, rose 0.4% in September, matching a 0.4% increase in August. Core prices — excluding food and fuel — rose 0.1%, also matching a 0.1% increase in August. For the year, seasonally adjusted wholesale prices are up 4%.
Retail sales rose 0.6% in September after an upwardly revised 0.7% increase in August. Economists had anticipated retail sales to rise 0.5% in September.
Total business inventories rose 0.6% in August, following a revised 1.1% increase in July. Total business sales rose 0.1% in August after a 0.8% increase in July.
Consumer prices rose a seasonally adjusted 0.1% in September, following a 0.3% increase in August. For the year, seasonally adjusted consumer prices are up 1.1%.
The Reuters/University of Michigan consumer sentiment index for October’s preliminary reading fell to 67.9 from 68.2 in September.
Initial claims for unemployment benefits rose by 13,000 to 462,000 for the week ending October 9. Continuing claims for the week ending October 2 fell by 112,000 to 4.39 million, the lowest level since November 2008.
Upcoming on the economic calendar are reports on the housing market index on October 18, housing starts on October 19 and the index of leading economic indicators on October 21.

Last Week in the News
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According to the ICSC-Goldman Sachs index, retail sales rose 0.4% for the week ending September 25. On a year-over-year basis, retailers saw sales increase 3.6%, the best reading since early August.
The Standard & Poor’s/Case-Shiller 20-city housing price index — on a seasonally adjusted basis — rose 0.6% in July after a 0.3% increase in June. On a year-over-year basis, prices rose 3.2% compared with July 2009.
The consumer confidence index fell to 48.5 in September from a downwardly revised 53.2 in August. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 24 fell 0.8%. Refinancing applications fell 1.6%. Purchase volume increased 2.4%.
The Institute for Supply Management reported that the monthly composite index of manufacturing activity was 54.4 in September after reaching 56.3 in August. Economists had anticipated a reading of 54.5. A reading above 50 signals expansion. It was the 14th straight month of expansion.
Total construction spending rose 0.4% to $811.8 billion in August, following a downwardly revised 1.4% drop in July. Economists had anticipated a drop of 0.4% in August.
The Commerce Department reported that consumer spending rose $41.3 billion or 0.4% in August, matching what economists had anticipated. Personal income increased $59.3 billion or 0.5%.
Initial claims for unemployment benefits fell by 16,000 to 453,000 for the week ending September 25. Continuing claims for the week ending September 18 fell by 83,000 to 4.45 million.
Upcoming on the economic calendar are reports on pending home sales on October 4 and wholesale trade on October 8.

Last Week in the News
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The National Association of Home Builders/Wells Fargo housing market index was unchanged in September at 13. An index reading below 50 indicates negative sentiment about the housing market.
The combined construction of new single-family homes and apartments in August rose 10.5% to a seasonally adjusted annual rate of 598,000 units. The increase was largely due to a boost in the construction of multi-family homes. Applications for new building permits, seen as an indicator of future activity, rose 1.8% to an annual rate of 569,000 units.
Existing home sales rose 7.6% in August to a seasonally adjusted annual rate of 4.13 million units from an upwardly revised 3.84 million units in July. The inventory of unsold homes on the market declined 0.6% to 3.98 million, an 11.6-month supply at the current sales pace, down from a 12.5-month supply in July.
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.3% in August after a 0.1% increase in July.
Orders for durable goods — items expected to last three or more years — fell 1.3% in August after increasing a revised 0.7% in July. Excluding volatile transportation-related goods, orders posted a monthly increase of 2%.
New home sales were unchanged in August at a seasonally adjusted annual rate of 288,000 units, matching July, which was revised up from 276,000. Economists had expected a pace of 290,000 units.
Initial claims for unemployment benefits rose by 12,000 to 465,000 for the week ending September 18. Continuing claims for the week ending September 11 fell by 48,000 to 4.49 million.
Upcoming on the economic calendar are reports on the housing price index on September 28 and construction spending on October 1.